Question 1

An optimal procedure for organizations to accept projects is to specify a return on investment (ROI)and fund only projects that meet this criterion.

Accepted Answer

A) True 
 B)False

Question 2

The amount of time a project manager estimates it will take to complete the activity under ideal conditions is known as:

Accepted Answer

A)  Pessimistic time
B)  Optimistic time
C)  Likeliest time
D)  Utopian time

Question 3

The objective of feeding buffers is to ensure that non-critical chains are completed so that they do not delay tasks on the critical chain.

Accepted Answer

A) True 
 B)False

Question 4

Projects should be evaluated against standards and by methods established at their completion,including procedures for monitoring,collecting,storing,and evaluating the history of the project.

Accepted Answer

A) True 
 B)False  True

Question 5

The optimistic time is the amount of time the project will take under the worst-case scenario.

Accepted Answer

A) True 
 B)False

Question 6

The amount of safety time needed to protect a particular path in a project is less than the sum of the safety times required to protect the individual activities making up the path.

Accepted Answer

A) True 
 B)False

Question 7

Favorable variances do not require corrective action or further investigation; only unfavorable variances in performance.

Accepted Answer

A) True 
 B)False

Question 8

Any path that if delayed will delay the completion of the entire project is known as a:

Accepted Answer

A)  Significant path
B)  Critical path
C)  Central path
D)  Network path

Question 9

Both PERT and CPM are based on variations of the __________ chart?

Accepted Answer

The answer of Both PERT and CPM are based on...

Question 10

Which of the following terms provides the basis for the project schedule,often formatted as a project Gantt chart?

Accepted Answer

A)  Critical path
B)  Work breakdown structure
C)  Float
D)  Earned value

Question 11

Among the reasons for the growth in project operations we find:

Accepted Answer

A)  People have more leisure time to follow and participate in projects
B)  More sophisticated technology has increased public awareness of project operations
C)  More customization for suppliers makes it important to meet their needs
D)  Both A and B D

Question 12

When workers receive approval for a task based on inflated time estimate,they may perceive that they now have plenty of time to complete the task and therefore delay starting the task.What has this concept been called?

Accepted Answer

A)  Student syndrome
B)  Inflation syndrome
C)  Time-shift
D)  Goldratt delay

Question 13

Which of the following project categories might lead to the other project categories?

Accepted Answer

A)  Derivative projects
B)  Breakthrough projects
C)  Platform projects
D)  R&D projects

Question 14

An event is a series of connected activities from the start to the finish of the project.

Accepted Answer

A) True 
 B)False

Question 15

Duration of critical path - path duration = __________?

Accepted Answer

A)  Latest finish time
B)  Critical time
C)  Path slack
D)  Latest start time

Question 16

The project life cycle typically has a stretched-s or an exponential form.

Accepted Answer

A) True 
 B)False  True

Question 17

All of the following are important outputs of project scheduling,EXCEPT:

Accepted Answer

A)  Identification of slack times for all activities and paths
B)  Earliest and latest time each activity can be completed
C)  Networks and paths
D)  Identification of critical activities

Question 18

Which of the following is NOT an example of a project?

Accepted Answer

A)  Constructing highways,bridges,tunnels and dams
B)  Managing research and development (R&
D)  activities such as the development of the atomic bomb
C)  Building MP3 players for massive distribution
D)  Running political or advertising campaigns,war or fire-fighting operations

Question 19

Which of the following statement(s) concerning probabilities of completion is/are incorrect?

Accepted Answer

A)  Using the variance of each activity,we can compute the likelihood of completing the project in a given time period.
B)  The probability of completing a path is found by calculating the standard normal deviate of the desired completion time less the expected completion time.
C)  The distribution of a path's completion time will be approximately normally distributed if the path has a large number of activities on it.
D)  The individual activity completion times must be normally distributed

Question 20

When a project cost,schedule,or time variance is significant,the project manager must identify (or at least try to do so)an __________ cause for the variance so that the proper remedy can be used to keep it from recurring.

Accepted Answer

The answer of When a project cost,schedule,or time variance is...

Exam 6: Managing Process Improvement Projects

An optimal procedure for organizations to accept projects is to specify a return on investment (ROI)and fund only projects that meet this criterion.

Correct AnswerverifiedShow Answer

The amount of time a project manager estimates it will take to complete the activity under ideal conditions is known as:

Correct AnswerverifiedShow Answer

The objective of feeding buffers is to ensure that non-critical chains are completed so that they do not delay tasks on the critical chain.

Correct AnswerverifiedShow Answer

Projects should be evaluated against standards and by methods established at their completion,including procedures for monitoring,collecting,storing,and evaluating the history of the project.

Correct AnswerverifiedTrue

The optimistic time is the amount of time the project will take under the worst-case scenario.

Correct AnswerverifiedShow Answer

The amount of safety time needed to protect a particular path in a project is less than the sum of the safety times required to protect the individual activities making up the path.

Correct AnswerverifiedShow Answer

Favorable variances do not require corrective action or further investigation; only unfavorable variances in performance.

Correct AnswerverifiedShow Answer

Any path that if delayed will delay the completion of the entire project is known as a:

Correct AnswerverifiedShow Answer

Both PERT and CPM are based on variations of the __________ chart?

Correct AnswerverifiedShow Answer

Which of the following terms provides the basis for the project schedule,often formatted as a project Gantt chart?

Correct AnswerverifiedShow Answer

Among the reasons for the growth in project operations we find:

Correct AnswerverifiedD

When workers receive approval for a task based on inflated time estimate,they may perceive that they now have plenty of time to complete the task and therefore delay starting the task.What has this concept been called?

Correct AnswerverifiedShow Answer

Which of the following project categories might lead to the other project categories?

Correct AnswerverifiedShow Answer

An event is a series of connected activities from the start to the finish of the project.

Correct AnswerverifiedShow Answer

Duration of critical path - path duration = __________?

Correct AnswerverifiedShow Answer

The project life cycle typically has a stretched-s or an exponential form.

Correct AnswerverifiedTrue

All of the following are important outputs of project scheduling,EXCEPT:

Correct AnswerverifiedShow Answer

Which of the following is NOT an example of a project?

Correct AnswerverifiedShow Answer

Which of the following statement(s) concerning probabilities of completion is/are incorrect?

Correct AnswerverifiedShow Answer

When a project cost,schedule,or time variance is significant,the project manager must identify (or at least try to do so)an __________ cause for the variance so that the proper remedy can be used to keep it from recurring.

Correct AnswerverifiedShow Answer

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